Arbe Robotics (NASDAQ:ARBE) Trading Down 6.8% – Here’s Why

Arbe Robotics Ltd. (NASDAQ:ARBE)’s stock price was down 6.8% on Friday . The company traded as low as $1.21 and last traded at $1.23. Approximately 3,813,414 shares were traded during trading, an increase of 70% from the average daily volume of 2,244,944 shares. The stock had previously closed at $1.32.

Analyst Ratings Changes

ARBE has been the topic of several recent analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Arbe Robotics in a research report on Wednesday, October 8th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $1.75 price objective on shares of Arbe Robotics in a research note on Tuesday, November 18th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $1.88.

Arbe Robotics Stock Performance

The stock’s fifty day simple moving average is $1.76 and its two-hundred day simple moving average is $1.60. The company has a market cap of $129.49 million, a price-to-earnings ratio of -2.62 and a beta of 0.51.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Ashton Thomas Private Wealth LLC acquired a new position in Arbe Robotics during the 2nd quarter worth approximately $27,000. Quadrature Capital Ltd bought a new stake in Arbe Robotics in the 2nd quarter valued at about $29,000. Resurgent Financial Advisors LLC bought a new position in Arbe Robotics in the 3rd quarter worth approximately $30,000. Invesco Ltd. acquired a new stake in Arbe Robotics in the second quarter worth about $41,000. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Arbe Robotics during the 1st quarter worth $63,000. 33.42% of the stock is owned by institutional investors and hedge funds.

About Arbe Robotics

Arbe Robotics Ltd., a semiconductor company, provides 4D imaging radar solutions for tier 1 automotive suppliers and automotive manufacturers in China, Hong Kong, Sweden, Germany, the United States, Israel, and internationally. It offers 4D imaging radar chipset solutions that address the core issues that have caused autonomous vehicle and autopilot accidents, such as detecting stationary objects, identifying vulnerable road users, operation at poor lighting conditions, and eliminating false alarms without radar ambiguities.